Arbor Funds $13.9 Million in Fannie Mae Small Loans Across the Nation

Geoffrey Platt

The College Crest,
 LaBoiteaux and 
Hillcrest Apartments
 Cincinnati, OH

UNIONDALE, NY, June 10, 2020 – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded seven Fannie Mae Small Loans across the nation. The multifamily properties, totaling 256 units, received $13.9M in financing. 

Geoffrey Platt of Arbor’s New York City office originated the loans.

 “These transactions highlight Arbor’s steadfast commitment to providing successful outcomes for our financial partners,” Platt said.

Pinebrook Apartments,
Florence, AL

 “No matter the location or the current environment, we are always here to ensure our clients achieve their fiscal goals.”   

Built in 2019, Taylor Row Apartments in Punta Gorda, FL, received $1.2M in refinancing though the Fannie Mae Small Loan program. 

The 16-unit upscale property features studio, one- and two-bedroom floorplans with granite countertops and stainless steel appliances, and is within walking distance of downtown Punta Gorda.

13628 Pennsylvania Avenue
Hagerstown, MD

Girard Court Apartments in Killen, TX, received $1.3M in refinancing through the Fannie Mae DUS® program. The one-story furnished property was built in 2006.

 It features 24-units with hardwood floors, built-in bookcases, vaulted ceilings and French doors. 

The complex is conveniently located with major highways, parks and local dining nearby.

Pinebrook Apartments in Florence, AL, received $2.4M in refinancing through the Fannie Mae Small Loan program. The 41-unit multifamily property was built in 2008 and is a short distance from the UNA Planetarium & Observatory.

Arbor Court Apartments
Idaho Falls, ID

13628 Pennsylvania Ave. in Hagerstown, MD, received $1.1M in acquisition funding through the Fannie Mae Small Loan program.

 Built in 2012, the mixed-use, multifamily property is within walking distance of retail shopping and restaurants. 

Arbor Court Apartments in Idaho Falls, ID, received $1.9M in refinancing through the Fannie Mae Small Loan program. The six-unit, two-story property was built in 1953 and features a playground,  laundry facility and onsite parking. It is within close proximity to parks and retail shopping.

The College Crest, LaBoiteaux and Hillcrest Apartments in Cincinnati, OH,  received $3.7M in acquisition funding through the Fannie Mae Small Loan program. The multifamily garden-style properties include six buildings and 103-residential units.

 Bournemouth Apartments
Harper Woods, MI

The Bournemouth Apartments in Harper Woods, MI, received $2.3M in refinancing through the Fannie Mae Small Loan program. The two-story, 48-unit multifamily complex is conveniently located with shopping and dining nearby.

 About Us

 Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, seniors housing, healthcare and other diverse commercial real estate assets.

Taylor Row Apartments
  Punta Gorda, FL

Headquartered in Uniondale, New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. Arbor is a Fannie Mae DUS® lender and Freddie Mac Optigo Seller/Servicer.

Arbor’s product platform also includes CMBS, bridge, mezzanine and preferred equity loans. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and customized solutions with an unparalleled dedication to providing our clients excellence over the entire life of a loan.

CONTACT:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

JLL arranges $33.8 million construction financing for spec office development in Burlingame, CA

250 California, a 44,605-SF office property in Burlingame, CA

SAN FRANCISCO, CA,  June 10, 2020 – JLL Capital Markets announced today that it has arranged $33.8 million in construction financing after arranging a joint venture equity partnership for the speculative development of 250 California, a 44,605-square-foot office property in Burlingame, California.

JLL worked exclusively on behalf of Dewey Land Company and DivcoWest to capitalize the project through a joint venture partnership and construction loan.

Jordan Angel

Due for completion in 2022, 250 California will feature four stories of best-in-class office space, ground-floor retail and a three-level subterranean parking facility. 

The transit-oriented building has a premier location in downtown Burlingame immediately adjacent to the Burlingame Caltrain station and just minutes away from Highway 101 and State Routes 82 and 92.

Additionally, 250 California is surrounded by a rich amenity base of restaurants and retailers and has direct access to the executive housing corridor off of Interstate 280 that includes Hillsborough, Woodside, Portola Valley and Los Altos Hills.

The JLL Capital Markets team representing the borrower was led by Managing Directors Jordan Angel and Chris Gandy.

”250 California represents an extraordinary opportunity to work with two of the best developers in the Bay Area to bring to market an incredibly located building that will provide an unparalleled office experience for high end tenants in downtown Burlingame,” Angel said.

Chris Gandy

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Jones Lang LaSalle Americas, Inc. (“JLL”) is a real estate broker licensed with the California Department of Real Estate, license #01223413.

CONTACTS:

Jordan Angel,

JLL Managing Director

CA Lic.: #01223413

Phone: +1 415 276 6300

Email: Jordan.Angel@am.jll.com

Kristen Murphy,

JLL Senior Manager

Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

MCA Realty Renovates and Sells Multi-Tenant Industrial Asset in North San Diego County for $8.25 Million

Pinnacle Business Park consists of two-buildings with a total of 13 individual units and is located at 2750 Auto Park Way in Escondido, CA

 Tyler Mattox

Escondido, CA, June 10, 2020 – MCA Realty, a full service real estate investment and management company based in Orange County, California, has recently sold a 40,968 square-foot multi-tenant industrial asset in the North San Diego submarket of Escondido, California.

The property was sold to Providence Capital Group, a San Diego-based owner and investor, for $8.25 million.

MCA Realty acquired the property in November 2018 for $5.9 million, and completed strategic interior and exterior renovations to increase the income profile of the asset.

Tucker Hohenstein

 MCA acquired the two building, 13 suite project, at 80% occupancy with in-place rents approximately 25% below market rates. MCA’s renovation program allowed the Project to increase in-place rents to market rates and lease-up vacant space.

“MCA’s focus is on identifying well-located properties with value-add potential, and then executing on our business plan to best position the asset” says Tyler Mattox, Principal at MCA Realty.

 “As a result, in a very short period of time we were able to attract a buyer looking for a stabilized multi-tenant industrial project with long-term growth potential, and realize a strong return on investment for our investors.” 

Michael Kendall

The asset is located in one of the tightest industrial submarkets in North County San Diego with market vacancy at the time of sale around 3%.

 “The asset’s location in a strong industrial submarket made it attractive to potential buyers,” explains Mattox.

 “Escondido continues to attract a variety of companies, many of whom are seeking quality value alternatives to other San Diego County submarkets to the south.

"We strategically positioned the asset to fit this market, which ultimately created a property that was attractive to buyers.”

Conor Boyle

Tucker Hohenstein, Michael Kendall and Conor Boyle with Colliers International represented MCA Realty as the seller. 

The buyer, Providence Capital Group, was represented by Evan McDonald with Colliers International.

Evan McDonald 

About MCA Realty

MCA Realty is a full-service real estate investment and management company specializing in commercial properties throughout the Western U.S. 

The goal of the company is to identify real estate investment opportunities and execute value creation strategies that maximize returns to its investors. 

Jared Gordon

Peter Cheng

MCA Realty's principals, Tyler Mattox, Jared Gordon, and Peter Cheng, have successfully navigated a full spectrum of market conditions, and pride themselves on building and maintaining strong relationships with industry partners.

CONTACTS:

Katie Haga / Lexi Astfalk

Brower Group

(949) 438-6262

khaga@brower-group.com

www.mca-realty.com

KBS and Gridium Inc. Cut $47,000 in Electricity Costs at Premier Office Towers in Emeryville, CA by Using Data Analytics Tool

Diana Rivers

EMERYVILLE, CA, June 10, 2020 – KBS, one of the largest investors in premier commercial real estate in the nation, and Gridium Inc., a software company specializing in data analytics, are pleased to announced that Gridium’s new electric utility rate optimization tool has cut approximately $47,000 in operating expenses at The Towers Emeryville, an 814,000 square-foot Class A office park in Emeryville, California, which is part of KBS’ client portfolio.

The Towers Emeryville,1900-2200 Powell Street, Emeryville, CA

Diana Rivers, at Cushman & Wakefield, is handling property management services for The Towers Emeryville on behalf of KBS.

“During these challenging times, KBS and Cushman & Wakefield are deploying new COVID-19 operating protocols, sharing information quickly, and preparing for the reboot,” says Rivers, associate director of asset services.

“Part of this is managing energy costs so that we can deliver high-value space to tenants, and Gridium makes that easy. It’s so much more than the dramatic views and outdoor lounges here that make these buildings productive and valuable to tenants.”

KBS used Gridium’s data analytics tool at The Towers Emeryville to identify annual utility-rate cost savings of $0.06 per square foot. Products and services that reduce operating costs are especially significant as property owners grapple with concerns surrounding COVID-19, according to Brent Carroll, asset manager for The Towers Emeryville and senior vice president for KBS.

Brent Carroll

“We are always looking for ways to manage operating costs while delivering unmatched properties and services to tenants in each of the markets that we invest,” says Carroll.

“The COVID-19 pandemic and shutdown have highlighted the need to keep expenses in check so that we can focus on exceeding the expectations of our investors, partners and tenants.

"Assessing current and future electricity use to decrease operating costs will be particularly important in the aftermath of the pandemic. Products like Gridium’s optimization tool help us to achieve this goal.”

Building from its foundation of patented machine learning technology – validated for accuracy and precision in an assessment performed by the Lawrence Berkeley National Lab – Gridium’s new electric utility-rate optimizations combine interval meter data with a proprietary rate engine to independently verify both historical bills and optimal rate selections.

Tom Arnold

This technology enables buildings to claim utility bill credits from incorrect bills and to save money, going forward, by switching to the optimal electric utility rate for its own unique energy-use profile, explains Tom Arnold, CEO of Gridium Inc.

“Our interval-data powered technology finds energy and operating cost savings overlooked by legacy bill-pay providers running on spreadsheets,” says Arnold.

 “Similar to a double-entry accounting system, Gridium’s technology independently calculates a building’s historical electric utility bills.

"These benchmarks allow for accurate comparison and verification of historical bills and for the identification of billing errors. And, by calculating these comparison benchmarks under all eligible hypothetical rate scenarios for each building, Gridium’s technology identifies optimal rate recommendations that lower future operating expenses.”

CONTACT:

 Micaela Fehrenbach

 mfehrenbach@brower-group.com

www.kbs.com.

www.gridium.com/

HSA Commercial Real Estate Inks 69,005 SF Lease with Mygrant Glass Company in Indianapolis Market

Gateway V distribution center, 845 Airtech Parkway, Plainfield, IN
near the Indianapolis International Airport.

Robert Smietana

CHICAGO, IL and INDIANAPOLIS, IN — Chicago-based HSA Commercial Real Estate  announced the firm signed a 69,005-square-foot lease with Mygrant Glass Company at the newly built Gateway V distribution center at 845 Airtech Parkway in Plainfield, Ind., near the Indianapolis International Airport.

  With 67 locations nationwide, Hayward, Calif.-based Mygrant is the largest independent distributor of auto glass in the United States. 

The company plans to move into the facility in fourth-quarter 2020 once interior improvements are completed.

Following the lease with Mygrant, the 262,758-square-foot Gateway V industrial development is now approximately 75% leased, with only one 68,986-square-foot space still available.

Terry Busch

 Paris-based aerospace firm Safran Nacelles and transplant solutions provider LifeNet are the two other building tenants.

“We are very pleased with the quality of tenants that have chosen Gateway V for their regional distribution hub in the Indianapolis market,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate.

 “We’ve been active in the Indianapolis market for over 15 years, and the level of demand from major international companies for Class A industrial space has never been stronger than it is today.”

 Jared Scaringe 

Developed on a speculative basis and delivered in 2019, the Gateway V distribution center features 32-foot clear heights, 30 truck docks (expandable), four drive-in doors, 185 parking stalls and 70 trailer positions.

HSA Commercial Real Estate has developed six buildings totaling approximately 900,000 square feet at the Gateway Business Park. The firm also saw strong leasing activity at Gateway IV, a 151,200-square-foot warehouse completed on spec in July 2017 and now fully leased.

Michael Jeppesen 

Terry Busch and Jared Scaringe of CBRE represented ownership in the new lease at Gateway V. Michael Jeppesen of IPG Commercial and Michael Weishaar of Cushman & Wakefield represented Mygrant Glass.

About HSA Commercial Real Estate:

Founded in 1981, Chicago-based HSA Commercial Real Estate is a diversified, full-service real estate firm specializing in office, industrial, retail and healthcare real estate leasing, management, marketing, development and financing on a national basis.

HSA has developed and acquired more than 100 million square feet of commercial real estate across the United States, with a total consideration in excess of $6 billion.

 Michael Weishaar 

 The company has represented owners and tenants in more than 10,000 transactions in 43 states; manages a property portfolio in excess of 14 million square feet in locations across the nation; and owns more than 13 million square feet of commercial property throughout the country.

CONTACTS:

 Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528